Question: Which of the following represents the basic distinction between a bilateral contract and a unilateral contract? Specific performance is available if the contract is unilateral

Which of the following represents the basic distinction between a bilateral contract and a unilateral contract?

Specific performance is available if the contract is unilateral but not if it is bilateral.

The contract is formed for a bilateral contract when mutual promises are given but the contract is formed for a unilateral contract when the offeree begins to perform.

Rights under a bilateral contract are assignable, whereas rights under a unilateral contract are not assignable.

The Statute of Frauds applies to a bilateral contract but not to a unilateral contract.

Which of the following represents the basic distinction between a bilateral

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